Faysal Bank was probably the only private bank in Pakistan to not offer Internet banking. They were sitting on their hands all these years while their competitors leapt forward. But now they’ve introduced mobile phone compatible Internet banking under the mobit brand name. The problem is that it is badly designed and dangerously insecure.
Sending money abroad and receiving payments from foreign companies or individuals is surprisingly difficult in Pakistan. There are many factors that come into play including the cost of the payment method, time it takes to transfer the amount and acceptability of the payment method to the foreign party. In this post I look at SWIFT wire transfer and discuss its advantages and disadvantages. Read more »»
One of the biggest problems facing webmasters from Pakistan is the lack of an easy payment method for purchasing services online. Specifically, an easy payment method for buying webhosting and domain names. Credit cards are difficult to come by. Debit cards are easier to get, but most of them don’t work online. Not even a VISA logo guarantees that a debit card will work online in Pakistan! So I was very happy when I heard that a Pakistani bank was issuing an Internet capable prepaid debit card. That was over 2 years ago, and in this post I share my experience with using the UBL wiz Visa card online
United Bank Ltd. sells these prepaid visa cards called wiz. One of best features of these cards is that you can use them online. But before you can do that you have to send a signed Internet application form. You can send it via email, fax or postal mail.
But the email method of submission is very insecure.
As a webmaster I often receive money from foreign ad companies like google adsense. I prefer to receive my money in the form of checks that I deposit in a foreign currency account.
A foreign currency account allows me to keep my money in US dollars, Euros or some other foreign country’s currency. Almost all banks in Pakistan support Foreign Currency or FC accounts. In this post I take a look at the advantages and disadvantage of opening a foreign currency account from the point of view of an Internet entrepreneur.